14% of U.S. adults intended to buy Dogecoin in May
, the leading meme cryptocurrency, among the general U.S. public has declined to -44 percentage points in April. This represents an 8% drop from January.
For comparison, trust in Bitcoin is also net negative, but it experienced a smaller drop of only 6%. Trust in Ethereum plunged by a whopping 14% since January. The substantial drop can be attributed to investors’ growing frustration with the project’s technical constraints. The second-largest cryptocurrency is also facing competition from a whole pack of the so-called “Ethereum killers” such as Solana and Terra.The survey was conducted among those customers who are aware of the aforementioned cryptocurrencies.
The data shows that there is still a healthy level of speculative fervor in crypto despite plunging cryptocurrency prices.is currently trading below the $38,000 level on CoinMarketCap. The cryptocurrency has been struggling to regain strength due to the Federal Reserve’s aggressively monetary tightening.
Dogecoin is trading at $0.12 after paring the gains it logged because of cenbillionaire Elon Musk’s Twitter deal. The meme coin is down 82.23% from its record high.
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